Description

Alves Reis - Waterlow Scandal Note

Portugal Banco de Portugal 500 Escudos 17.11.1922 Pick
130
A note whose history is so dubious an entire book has been written
about its existence. Portuguese criminal Arthur Alves Reis was able
to acquire 200,000 of these 500 Escudos notes (a total face value
of 100 million Escudos) from Waterlow and Sons, Ltd. through
forgery and deceit, conspiring with several accomplices to convince
Waterlow that they were in fact working on a "confidential mission"
for the Governors of the Banco de Portugal. This scheme, still
unparalleled in scope, made Reis a very rich man until his ultimate
capture in 1925. At the time of his capture, Reis was only 28 years
old. Truly a fascinating piece of monetary and criminal history.
Some staining is seen, graded PMG About Uncirculated 55 Net.